The proper operation of municipal government requires that public
officials and employees be independent, impartial and responsible
to the people; that government decisions and policy be made in the
proper channels of the governmental structure; that public office
not be used for personal gain; and that the public have confidence
in the integrity of its government. In recognition of these goals,
there is hereby established a procedure for disclosure by certain
officials and employees of private financial or other interests in
matters affecting the City.

The Mayor or any member of the Board of Aldermen who has a substantial
personal or private interest, as defined by State Law, in any bill
shall disclose on the records of the Board of Aldermen the nature
of his interest and shall disqualify himself from voting on any matters
relating to this interest.

For such person and all persons within the first degree of consanguinity
or affinity of such person, the date and the identities of the parties
of each transaction with a total value in excess of five hundred dollars
($500.00), if any, that such person had with the political subdivision,
other than compensation received as an employee or payment of any
tax, fee or penalty due to the political subdivision, and other than
transfers for no consideration to the political subdivision.

The date and identities of the parties to each transaction known
to the person with a total value in excess of five hundred dollars
($500.00), if any, that any business entity in which such person had
a substantial interest, had with the political subdivision, other
than payment of any tax, fee or penalty due to the political subdivision
or transactions involving payment for providing utility service to
the political subdivision, and other than transfers for no consideration
to the political subdivision.

The name and address of each sole proprietorship that he owned; the
name, address and the general nature of the business conducted of
each general partnership and joint venture in which he was a partner
or participant; the name and address of each partner or co- participant
for each partnership or joint venture unless such names and addresses
are filed by the partnership or joint venture with the Secretary of
State; the name, address and general nature of the business conducted
of any closely held corporation or limited partnership in which the
person owned ten percent (10%) or more of any class of the outstanding
stock or limited partnership units; and the name of any publicly traded
corporation or limited partnership that is listed on a regulated stock
exchange or automated quotation system in which the person owned two
percent (2%) or more of any class of outstanding stock, limited partnership
units or other equity interests;

The reports, which are on file in the City offices, shall be
filed with the City Clerk and with the Secretary of State prior to
January 1, 1993 and thereafter with the Ethics Commission. The reports
shall be available for public inspection and copying during normal
business hours.

Every other person required to file a financial interest statement
shall file the statement annually not later than May first (1st) and
the statement shall cover the calendar year ending the immediately
preceding December thirty-first (31st); provided that any member of
the Board of Aldermen may supplement the financial interest statement
to report additional interests acquired after December thirty-first
(31st) of the covered year until the date of filing of the financial
interest statement.